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First Solar Announces Expansion into Malaysia

Thin-film solar firm, First Solar, Inc. (Nasdaq:FSLR) announced that its board of directors has approved the construction of an additional manufacturing plant in Malaysia with an annual production capacity of 120 megawatts (MW) representing an investment of about $150 million. The new plant is scheduled to start production in the first half of 2009 and will be built adjacent to two previously announced plants currently under construction in Malaysia. First Solar operates manufacturing plants in the U.S. and Germany with total annual production capacity of 210MW and is currently constructing two additional manufacturing plants in Malaysia with total annual nameplate production capacity of 240MW. This expansion will bring the Company’s total annual nameplate production capacity to 570MW upon completion of all announced projects by the end of 2009. The production from the newly announced plant expansion will be used to meet additional demand from First Solar’s existing customers, including Blitzstrom GmbH, Conergy AG, Gehrlicher Umweltschonende Energiesysteme GmbH, Phoenix Solar AG, and Reinecke + Pohl Sun Energy AG, and to meet demand under a new long term contract with ASSYCE Fotovoltaica, a Spanish renewable energy project developer and system integrator focused on large scale, grid connected solar power plants. First Solar […]

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Global VC Investments in Clean Technology Surge

Global venture capital investments in clean technology companies surged to US$1.1 billion in the first six months of 2007 alone, according to a mid-year research by Ernst & Young and Dow Jones VentureOne. Propelled by activity in the US, 2007 venture capital investments in clean technology companies are now on track to increase by more than 35% compared to 2006. “Clean technology has moved from vision to reality, and it’s now a priority on the CEO agenda of every company from the entrepreneurial growth companies to the multinational market leaders,” said Gil Forer, Global Director of Ernst & Young’s Venture Capital Advisory Group. “The accelerating venture capital investments reflect the growing importance of the sector. A strong innovation pipeline and confidence in the global drivers supporting growth in the clean technology market – such as government policies, consumer awareness, energy prices and concern about carbon emissions – are driving venture capital investment.” The largest number of investments was in the US with 71 deals closed in the first six months of 2007, which raised over US$893 million. European investments are set to reach or even exceed 2006 levels, with 19 deals and US$80 million invested in the first six months […]

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ConsumerPowerline Raises $17M

Demand Response firm ConsumerPowerline has completed a $17 million Series A Preferred Financing. The round was led by Expansion Capital Partners, LLC, with co-investors Bessemer Venture Partners, as well as Schneider Electric Ventures, the New York City Investment Fund and Vantania Holdings, advised by Consensus Business Group. ConsumerPowerline will use the funds to aggressively expand Demand Response, smart metering technologies, permanent energy efficiency solutions and other products and services designed to pay end-users for the efficiencies that they offer to the national, regional and local energy markets. ConsumerPowerline uses an “aligned incentive” model, in which the firm shares in the incremental savings or revenues it generates for clients. Demand Response is a kind of electricity “insurance policy” in which large energy users help prevent widespread blackouts, brownouts and voltage reductions by using less power when the local and regional electric grid is under stress and a power outage looms. Energy companies can buy “negative watts” (negawatts), at the same rate as electricity for those peak hours–avoiding the far higher cost of outages, building new power plants or running dirty, uneconomic peaking plants. Using a web-based technology platform and an integrated national approach, ConsumerPowerline helps owners and operators of large commercial, […]

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ConocoPhillips, ADM Form JV for Next-Generation Biofuels

Oil giant ConocoPhillips (NYSE:COP) and ag giant Archer Daniels Midland Company (NYSE:ADM) announced they will collaborate to develop renewable transportation fuels from biomass. The alliance will research and seek to commercialize two components of a next-generation biofuel production process: The conversion of biomass from crops, wood or switchgrass into biocrude, a non-fossil substance that can be processed into fuel; and The refining of biocrude to produce transportation fuel. “ConocoPhillips believes that the development of next-generation biofuels is a critical step in the diversification of our nation’s energy sources,” said Jim Mulva, chairman and chief executive officer, ConocoPhillips. “We are hopeful that this collaboration will provide innovative technology toward the large-scale production of biofuels that can be moved efficiently and affordably through existing infrastructure.”

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